Bovada won’t pay me. Player report (SOLVED)
Today on SBR forum a player has reported that Bovada retained his payout. According to the thread the user “BraveBaby” made a deposit of $50 using Bitcoin to keep his data anonymous, the player quickly hit some games and turned $50 into $1000 so he requested the total payout but Bovada refuse to pay him until he sends the identification (KYC).
The player alleged that “The main reason to bet with Bitcoin is to keep his data anonymous” he didn’t agree to complete the KYC. Bovada said that without KYC completed they aren’t able to send any payment even if the player requests it using BTC option.
The following the is the user transcription published on SBR forum.
Hi I am new to Bovada and I quickly turned a 50 dollar bitcoin deposit into over 1000 dollars. I only made one bitcoin deposit and then after completing my rollover I requested a payout via bitcoin for 1000. Next day I got an email from bovada stating they had suspended my account until I could provide proper identification proof. Even though I made a bitcoin deposit and never used a credit card I still went ahead and sent them my ID. So I wait about a day and then I get another email from them stating I would need to send a utility bill and selfie of myself holding up my ID. I found this to be ridiculous as I never made a deposit which would require me to send in those documents. I’ve wagered on many different sites and made bitcoin deposits only and never had to send in any identification. I feel as I am being singled out by bovada because I am new player with them and requested a payout very quickly. I don’t know what else to do so I came here. At this point I would not recommend bovada to anyone. They can close your account at any time. It doesn’t matter if you made a bitcoin deposit or credit card deposit. Please know even if you send in what they ask you may not get your payout or account enabled again. Right now I feel as if bovada is doing everything possible to keep me from getting my 1k. If anyone can help me with this I’d truly appreciate it. I’m brand new to Bovada so I’m feeling like I’ve been robbed by them.
An SBR forum moderator mentioned that, every single player has to know about the importance of complete the form called “Knowing your Client” (KYC), and provided by most of the sportsbooks.
We could consider this case as a “Lack of information” since the guy is a brand new player.